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20121115
20121115
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of business. it's happening in menlo park. we have a crew on the way. >>> now, to california's controversial contribution to the fight against climate change. businesses that can't meet the state's new cap on pollution can trade with those that can. the goal is to reduce global warming but the cap and trade program could translate big money to cash strapped california. nannette miranda has more from sacramento. >> reporter: in an e-mail like auction, california took bids for credits for industrial facilities like oil refineries. under the legislation, the credits from the cap and trade program allow businesses to emit a certain amount of greenhouse gases. it starts at $10 per metric ton. new approach aims to stabilize if not reduce the effects of global warming. >> we think today salmon utility al step forward for california and really a beacon of hope for the rest of the nation. >> the number of pollution credits could get more expensive as allowances become scarce. the goal is to have the same level of greenhouse gases at 2020. companies are forced to buy more credits. either way it costs
-based -- airline since june >> right now a hearing underway looking into the connection between california's oil refineries and sudden spike in gas prices. new research shows refineries continued to produce gasoline during periods we the public was told otherwise. the information comes from mccullough research which combed through found thousands of pages of documents. transportation reporter heather ishimaru will have a full report tonight. >>> breaking news on the bp oil spill an executive has been indicted on charges he lied to authorities about the amount of oil leaking from the spill. the oil giant has agreed to pay 4 1/2 billion dollars in a landmark settle for causing the biggest spill in united states history terms of that deal released this morning in addition, bp agreed to plead guilty to 11 fell misconduct charges for the deaths of the men who died. the settlement is said to be paid over five years. >>> still ahead, he admitted the affair. former cia director petraeus is denying another aspect of his sex scandal as big names rush to defend general john allen's reputation. >>> new fear
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